Your Key Questions Answered About the Metaverse
Today’s dispatch is not set in reality.
It’s true—every last word of it. Nevertheless, it’s entirely make-believe.
Nothing is real. Expect that everything is real, and most of it you can buy.
It is the story of the metaverse.
I write to you a lot about opportunities in crypto and the crazy world of non-fungible tokens, or NFTs, that have exploded in popularity over the last year or so. And a big undercurrent with both is the rise of this thing called the “metaverse.”
So, I wanted to step back to the beginning and address a basic question I hear all the time: What is this metaverse thing, Jeff?
Not to put too fine a point on it, but no opportunity that I know of is bigger than the metaverse.
Already, the earliest iterations of the metaverse are earning about $40 billion to $50 billion per year combined.
Investment banking behemoth JPMorgan projects the industry will soon generate $1 trillion yearly and will “infiltrate every sector [of the economy] in some way in coming years.”
Which is why JPMorgan is the first Wall Street bank with an office in the metaverse, a lounge (complete with a roaming tiger) that it recently opened in the Metajuku Mall in a metaverse called Decentraland.
So, let’s get to know the world we’re about to call home…
What is the metaverse?
The internet in 3D.
Right now, when we use the internet, we all stare at flat, two-dimensional images on a computer screen. But in the very-near future, we will experience the internet in 3D visually. We will shop in virtual stores as immersive as those in the real world. We will even be able to touch products to know what they feel like.
Is there just one metaverse?
No. Just as there are hundreds of millions of websites, an untold number of metaverses will exist.
Some will focus singularly on gaming, some on shopping, some on entertainment. That list will be long. You’ll go looking for a recipe for something like baklava, and you will come across a host of cooking metaverses devoted to cooking classes, to Middle Eastern cuisine, to pastries, etc.
Where will I access the metaverse?
From every piece of visual electronics that you own.
You’ll find the metaverse on your laptop, tablet, PC, smartphone…even your TV.
It will exist holographically in some instances, meaning you won’t need special glasses.
In other instances, you will need special glasses for the augmented- and virtual-reality experience.
At the moment, those glasses are bulky. But major tech giants including Apple and Microsoft are already working on slim, stylish versions that look no different than modern designer eyewear.
And going “big brain” for a moment, I’d say that a small tech startup in someone’s garage somewhere is probably already working on the earliest designs for a contact lens that will display the metaverse in 3D all around you as you move.
How will I find what I want in the metaverse?
A Google of the Metaverse will emerge at some point.
But instead of a static list of sites, we will see something like an interactive map of various types of metaverses or even regions of a broader metaverse, almost like a touchscreen map of retailers in a multi-level mall.
Just tap on your destination and—poof!—you arrive, as though you’ve stepped into a Star Trek transporter.
How will I get around?
We will all become avatars.
Already, companies exist that are capturing full-body, full-motioning imagery of real people and turning that data into life-life avatars that look identical to the person, and not even in a slightly comical way.
I mean, they just look like an electronic version of that person.
Otherwise, you will be able to buy, design, build, and clothe your avatars as you wish. All over the NFT space these days, full-body avatars are emerging in the form of Degenerate Apes, Dazed Ducks, Yaku gangsters, and others.
Avatars themselves are going to be a massively huge business with gargantuan profits.
So…that’s the metaverse 101. That’s the world we are unequivocally moving into.
Lots of people will scoff at that. Lots will shake their head and move on.
And then there will be those who see the lightbulb go off and recognize that technology always progresses forward and that this is the next, natural progression of the internet.
Those are the people who will have the chance at earning life-changing wealth.
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